Christie & Co announced the purchase of The Wheelwright Inn, a thatched freehouse in the village of Colyford, East Devon, by Hall & Woodhouse, the independent brewer and pub operator, from an asking price of £695,000.
The 12th-Century pub offers a strong trade in food, which accounts for some 65% of turnover. The Wheelwright stands within an Area of Outstanding Natural Beauty and the Seaton Tramway, a unique narrow gauge electric tramway, runs nearby.
The Wheelwright comprises a main bar, a 28-cover à la carte restaurant and also an 85-cover restaurant and function room extension, which has a second bar.
Michael Easton from Christie & Co commented: "We have seen a particularly strong first quarter in 2004 and the number of deals that have done under contract has increased fivefold on this time last year. Freehold freehouses are in very high demand with private individuals and corporate operators vying to acquire the best opportunities."
